SURREY, BRITISH COLUMBIA--(Marketwired - May 28, 2014) - GLOBAL HEMP GROUP INC. ("GHG" or the "Company") (PINKSHEETS:GBHPF)(CSE:GHG)(FRANKFURT:GHG) today announced an agreement to acquire part ownership of start-up food brand HempNatura®, beginning the development of a full portfolio of hemp-related brands and services for GHG.
Under the contract, Global Hemp Group will purchase 20 percent of the HempNatura brand for $250,000 USD, subject to certain financial conditions, and bring it into the GHG family of companies. HempNatura, Inc. produces and markets a range of branded hemp-based foods, supplements, and body care products, capitalizing on the array of benefits hemp has to offer.
"We are passionate about providing hemp for nutrition, health, and wellness," said Jim Saunders, founder of HempNatura. "Our relationship with GHG will help us develop functional foods, and also introduce value-added raw materials to the larger food industry."
HempNatura's Scientific Advisory Team will work with GHG to put nutritionally balanced ingredients on the market that will improve health and wellness benefits, while the two companies will collaborate on optimizing their sustainable and responsible practices. "As an eco-conscious company, HempNatura is extremely excited about working with Global Hemp Group," said Saunders. "Our companies share sustainable values, and this is a great opportunity to share those values with the world."
"This deal was a natural for us," said Global Hemp Group CEO Charles Larsen. "HempNatura has developed an exceptional line of products that demonstrate the many ways hemp can improve lives and the health of the planet. We are excited to use GHG's resources to grow HempNatura into a major brand." The deal is expected to close in June 2014.
For more information on HempNatura's products and the health and well-being benefits of hemp, visit HempNatura.com or see the attached fact sheet.
On behalf of the Board of Directors
Charles Larsen, Chairman & CEO
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Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Global Hemp Group Inc., including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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